Night Trade Review
GBPUSD Breakout for Long enters setup and profit more above 70pips.
Aggressive trade enters setup and profit at least 100pips.
Setup of Breakout for Short is valid but over effective time.
Breakout for Long enters setup and earns almost 100 pips. The price reversed to fall sharply immediate after hit TP1.
Aggresive trade setup is fulfilled and earns almost 100 pips.
EURUSD Breakout for Short is valid but over effective time.
Hundred Pips Executor successfully accomplished mission.
Yesterday was a crazy night to grab US dollar but it’s not a dream for experience trader to earn 400~600 pips for the whole days. Congrats to all traders who earn a lot yesterday!
Today the morning market will consolidate in range to digest yesterday info.
Recommend strategy for this morning: "Sell High"+ "Buy Low" by using the least stop loss to earn the most target profit.
For low risk trader: In order to prevent false breakout, you shouldn’t enter trade without retrace after initial breakout. Flexible during trading, the way of handling will determine the quality of your trade.
Trick for low risk trader to survive: If the market goes opposite direction after you enter trade, remember to close the trade when the price is retracing to entry price. Then judge the direction of market before enter a new trade. We rather miss the opportunity of trade than lose the money because low risk trader has limited capital. Who care if earn less? Bear in mind the market is always there for you tomorrow as long you have capital on your hand!
GBPUSD - Strategy for Morning
Breakout for Long - EP{1.5498, wait for retrace and breakout upward again to buy},
SL {1.5471}, TP1- 1.5593, TP2- 1.5643, TP3- 1.5693}.
If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – sell. The strategy is same as Breakout for Short.
Breakout for Short - EP {1.5431, wait for retrace and breakout downward again to sell},
SL {1.5469}, TP1 - 1.5318, TP2 - 1.5268, TP3 - 1.5208.
If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – buy, the strategy is same as Breakout for Long.
EURUSD - Recommended strategy for Morning
Breakout for Long - EP{1.3558, wait for retrace and breakout upward again to buy},
SL {1.3531}, TP1- 1.3713, TP2-1.3793, TP3- 1.3773}.
If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – sell. The strategy is same as Breakout for Short.
Breakout for Short - EP {1.3491, wait for retrace and breakout downward again to sell},
SL {1.3539}, TP1 - 1.3388, TP2 - 1.3338, TP3 - 1.3288.
If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – buy, the strategy is same as Breakout for Long.
After 17:30 {GMT +8:00 Singapore}, if the market trends up but failed to break
GBPUSD{1.5498}, EURUSD{1.3558}
Waiting for the direction to reverse and trends down before enter a Short trade, SL is 28 pips away from EP.
After 17:30 {GMT +8:00 Singapore}, if the market trends down but failed to break
Breakout for Short or false breakout
Waiting for the direction to reverse and trends up before enter a Long trade, SL is 28 pips away from EP.
Aggresive trader who dare to enter opposite trade after hit SL.
GBPUSD near price of “1.5470”,
EURUSD near price of “1.3530”,
When the market is no longer going upward instead it reversed downward, now it is time to enter Short trade, SL is 38 pips away from EP. (Make sure the market is no longer go up and reverse first before enter a Short trade.), TP is same as Breakout for Short.
If the trade hits SL, waiting for retrace of 10-20 pips to enter opposite trade – Buy.
Buy Low trader pays attention to the major line of
GBPUSD {1.5300, 1.5250}, EURUSD {1.3350}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.
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